BitMine is doing something that is rarely discussed seriously.
Company chairman Tom Lee stated that the amount of Ethereum held by BitMine is close to 4% of the total ETH supply, and the stance is very clear—these ETH will not be sold. Meanwhile, the company is still accelerating its purchasing pace.
This statement itself is more important than the numbers.
According to him, if these ETH were all staked now, they could generate more than 1 million dollars in net income daily. This means that for BitMine, Ethereum is not an "asset waiting for appreciation," but rather a set of already functional, sustainable cash flow tools.
The signals here are twofold:
First, ETH is being treated as a "productive asset."
It is not a trading target, nor a strategic reserve, but rather exists similarly to equity in infrastructure, continuously generating dollar-denominated returns.
Second, concentrated holdings are no longer being avoided.
When institutions choose to clearly express "never sell," they are essentially betting on the long-term stability of the network, rather than short-term price fluctuations.
Such behavior is not on the same level as retail trading logic.
They are not discussing ups and downs, but rather control, yields, and time.
If the focus in the past few years was on "who is buying,"
then what may be more important next is: who bought and has no intention of selling.$ETH
